Thailand Home Fragrance Market | Trends, Value, Companies, Growth, Analysis, Size, Revenue, Share, Forecast & Industry

Thailand Home Fragrance Market has witnessed substantial growth, primarily propelled by the expansion of the hospitality and residential sectors. Key drivers include strategic investments, such as the $511 million infusion from Chinese investors into Bangkok’s real estate market in 2022, and the addition of 1,053 hotel rooms in Phuket in 2023. Additionally, streamlined visa processes for Chinese and Indian tourists have significantly bolstered tourism, driving up demand for hotel accommodations. Consequently, the market for home fragrance products has grown, as new hotels prioritize high-quality amenities to enhance the guest experience.

According to the research, Thailand Home Fragrance Market revenue is projected to grow at a CAGR of 7.8% during 2024E-2030F. Thailand's home fragrance market is poised for sustained growth, fueled by an expanding tourism sector, ongoing urbanization, and rising disposable incomes. The government's "IGNITE Thailand’s Tourism" strategy is a pivotal driver, promoting tourism routes that connect major cities with emerging secondary destinations. By 2025, the country aims to attract 40 million foreign visitors and facilitate 220 million domestic trips, backed by a $178 million budget. These efforts target a 7.5% rise in tourism revenue, contributing to a projected $97 billion in total revenue. Furthermore, increasing per capita income is empowering consumers to allocate more towards discretionary items, such as home fragrances, thereby accelerating market expansion.

In 2023, air fresheners became the leading product in Thailand's home fragrance market, driven by their affordability, broad availability, and ease of use, making them the preferred choice among consumers. Supermarkets and hypermarkets dominated the distribution landscape, offering convenience, a wide product range, and competitive pricing. The residential sector emerged as the largest end-user segment, bolstered by increasing urbanization, rising disposable incomes, and the growing trend of home improvement.

Market Segmentation by Product

In 2023, air fresheners dominated the revenue share within Thailand's home fragrance market, driven by their cost efficiency, widespread availability, and ease of use. Their ability to deliver instant and effective results has positioned them as the preferred choice for consumers seeking a convenient and affordable solution to enhance indoor air quality and ambiance.

Market Segmentation by Distribution Channel

Supermarkets and hypermarkets dominated Thailand's home fragrance market in 2023 due to their convenience, extensive product selection, and competitive pricing. These retailers provide a one-stop shopping experience, attract a wide range of consumers, and leverage strong brand trust.

Market Segmentation by End-User

In 2023, the residential sector has garnered the largest revenue share in Thailand's home fragrance market due to increased urbanization and rising disposable incomes. Consumers sought to create inviting, comfortable living spaces, leading to higher demand for home fragrance products. This shift in lifestyle and focus on personalizing home environments drove the residential sector’s market dominance.

Key Attractiveness of the Report

• 10 Years Market Numbers.
• Historical Data Starting from 2020 to 2023.
• Base Year: 2023
• Forecast Data until 2030.
• Key Performance Indicators Impacting the Market.
• Major Upcoming Developments and Projects.

Key Highlights of the Report:

• Thailand Home Fragrance Market Overview
• Thailand Home Fragrance Market Outlook
• Thailand Home Fragrance Market Forecast
• Historical Data and Forecast of Thailand Home Fragrance Market Revenues, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Home Fragrance Market Revenues, By Product, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Home Fragrance Market Revenues, By Distribution Channel, for the Period 2020-2030F
• Historical Data and Forecast of Thailand Home Fragrance Market Revenues, By End-User, for the Period 2020-2030F
• Thailand Home Fragrance Market Revenue Ranking, By Companies
• Thailand Home Fragrance Market Drivers and Restraints
• Thailand Home Fragrance Market Trends
• Thailand Home Fragrance Market Porters Five Forces
• Thailand Home Fragrance Market Opportunity Assessment
• Competitive Benchmarking
• Company Profiles
• Key Strategic Recommendations

Market Scope and Segmentation

The report provides a detailed analysis of the following market segments:

By Product

• Candles
• Air Fresheners
• Reed Diffusers
• Essential Oils
• Incense Sticks

By Distribution Channel

• Supermarkets & Hypermarkets
• Specialty Stores
• Online
• Others (Pharmacies and Convenience Stores)

By End-User

• Residential Sector
• Non-Residential Sector